Guideline Value for Ramalinga colony, Ponniammanmedu (Ward-23)

Ramalinga colony, Ponniammanmedu (Ward-23) guideline value

The current guideline value for Ramalinga colony, Ponniammanmedu (Ward-23) is Rs 2,700 per sq.ft, effective from 1 July 2024. This area falls under Madhavaram village and is classified as Residential Special Type - I, governed by the Madhavaram SRO.

How the guideline value of Ramalinga colony, Ponniammanmedu (Ward-23) has changed

The guideline value for Ramalinga colony, Ponniammanmedu has undergone several revisions over the years. In the 2012 revision, the guideline value was set at Rs 2,500 per sq.ft. This figure remained unchanged in the 2023 revision, where it was still Rs 2,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft as of 2024. The median guideline value in this area is Rs 1,600 per sq.ft, placing the current guideline value of Ramalinga colony, Ponniammanmedu above this median.

• Ramalinga colony D Block, Ponniammanmedu (Ward-23): Rs 2,700 per sq.ft (2024)
• Ramalinga Colony D - Block Main Road (Ward No.23): Rs 2,700 per sq.ft (2024)
• Ramalinga Colony D Block 4th Street (Ward 23): Rs 2,700 per sq.ft (2024)
• Ramalinga Colony D - Block 4th Cross st (Ward No.23): Rs 2,700 per sq.ft (2024)
• Ramalinga Colony D Block 3rd Street (Ward 23): Rs 2,700 per sq.ft (2024)
• Ramalinga Colony D - Block 3rd Cross st (Ward No.23): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Ramalinga colony, Ponniammanmedu (Ward-23)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees together to Rs 2,43,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ramalinga colony, Ponniammanmedu (Ward-23)?

The Sub Registrar Office that covers Ramalinga colony, Ponniammanmedu (Ward-23) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Madhavaram

The guideline value is a critical factor when buying or selling property in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the sale price must be at least equal to the guideline value to ensure compliance with local regulations. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ramalinga colony, Ponniammanmedu?

The current guideline value of Ramalinga colony, Ponniammanmedu (Ward-23) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 2,500 per sq.ft in 2023, and then increased to Rs 2,700 per sq.ft in 2024. Overall, the increase from 2012 to 2024 is 8%.

What is the land classification for this area?

Ramalinga colony, Ponniammanmedu (Ward-23) is classified as Residential Special Type - I according to the local land classification guidelines.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles all registrations for properties in the area.

How is stamp duty calculated for properties in Ramalinga colony?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at a rate of 7%.